Updated Oct 28, 2024
TJ Potenzza Acquires Single Family Home In Long Beach Township, NJ For $4.8M
6703 Ocean Ave, Long Beach Township, NJ, USA
$4,800,000
$1,038/SF
Building Size
4,623 SF
Asset Type
Single Family Residence
Closing
Nov 10, 2020
About this deal
AI
A single-family home located at 6703 Ocean Ave in Long Beach Township, NJ, has been sold. The property, which is a new construction oceanfront, was sold on 11/10/2020 by Mancini Custom Homes. The buyer, TJ Potenzza, purchased the property for a sale price of $4,800,000. The home offers a total square footage of 4,623, resulting in a price per square foot of $1,038.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $4,800,000
- Market: Long Beach Township, NJ
- Address: 6703 Ocean Ave
Pamela Stetson from Berkshire Hathaway HS Abbott Realtors represented both the buyer, TJ Potenzza, and the seller, Mancini Custom Homes, in this transaction.
It's worth noting that this sale showcases the popularity of selling properties in Long Beach Island, New Jersey, particularly new construction homes with oceanfront views.
Long Beach Township Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Sale transactions
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Deal FAQ
About $1K per square foot on a published $4.8M for 4,623 square feet (2020).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93